Insider Buying: NerdWallet, Inc. (NASDAQ:NRDS) Major Shareholder Purchases 412,055 Shares of Stock

by · The Markets Daily

NerdWallet, Inc. (NASDAQ:NRDS – Get Free Report) major shareholder Topline Capital Partners, Lp bought 412,055 shares of NerdWallet stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average cost of $11.35 per share, for a total transaction of $4,676,824.25. Following the acquisition, the insider now owns 5,251,145 shares in the company, valued at $59,600,495.75. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

NerdWallet Trading Down 0.4 %

NRDS stock traded down $0.04 on Wednesday, hitting $10.98. 520,969 shares of the company’s stock traded hands, compared to its average volume of 402,393. The stock has a market cap of $853.56 million, a price-to-earnings ratio of -64.82 and a beta of 1.42. NerdWallet, Inc. has a 1-year low of $6.38 and a 1-year high of $17.30. The stock has a fifty day moving average of $12.40 and a 200-day moving average of $13.32.

NerdWallet (NASDAQ:NRDS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The company had revenue of $150.60 million for the quarter, compared to analyst estimates of $149.93 million. NerdWallet had a negative net margin of 1.85% and a negative return on equity of 2.98%. NerdWallet’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.14) EPS. On average, equities research analysts anticipate that NerdWallet, Inc. will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NerdWallet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC boosted its stake in NerdWallet by 108.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 926,596 shares of the company’s stock worth $13,621,000 after purchasing an additional 481,958 shares during the period. Vanguard Group Inc. boosted its position in shares of NerdWallet by 12.1% in the first quarter. Vanguard Group Inc. now owns 4,005,447 shares of the company’s stock worth $58,880,000 after buying an additional 432,262 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of NerdWallet by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 769,831 shares of the company’s stock valued at $11,239,000 after buying an additional 86,376 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of NerdWallet by 18.8% during the second quarter. Renaissance Technologies LLC now owns 251,000 shares of the company’s stock valued at $3,665,000 after buying an additional 39,800 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new position in NerdWallet during the second quarter valued at $555,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Truist Financial lowered their target price on shares of NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Barclays dropped their price objective on shares of NerdWallet from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, Oppenheimer cut their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Read Our Latest Report on NerdWallet

NerdWallet Company Profile

(Get Free Report)

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.

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